10-07-2008, 04:46 AM
<b>India Inc expects short-term relief</b><!--QuoteBegin-->QUOTE<!--QuoteEBegin-->Several firms, which were facing problems in meeting even their working capital requirements, expected banks to loosen their purse strings for lending. "Today we are seeing a lot of credit constraints in the market even for working capital. In this scenario, any step by RBI is welcome," said Seshagiri Rao, director-finance, JSW Steel.
State-run oil refiners, which were finding it hard to fund their crude purchases, expected some of the tightening to ease.
"We are delighted as this will improve liquidity at a time when we are finding it difficult to borrow money," said S V Narasimhan, director-finance, Indian Oil Corporation.
The real estate sector, which is grappling with a climbing inventory of unsold stock and shortage of funds because of the ongoing tightness in the market, also expected some relief.
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State-run oil refiners, which were finding it hard to fund their crude purchases, expected some of the tightening to ease.
"We are delighted as this will improve liquidity at a time when we are finding it difficult to borrow money," said S V Narasimhan, director-finance, Indian Oil Corporation.
The real estate sector, which is grappling with a climbing inventory of unsold stock and shortage of funds because of the ongoing tightness in the market, also expected some relief.
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